Davis family

Call Eddie Reynolds my little pit bull lender in Round Rock Texas 512-21-9100 - Fri Apr 18 2008, 07:55

I took that average right from my MLS so it was accurate as an average for my area. I agree that it is skewed in that not all houses will sell within that ratio; some may sell for 20% under list price and some sell for over full price, but in my opinion what that really means is that if it is priced right it should sell within 5% of list price, if it doesn't then it was because it was over or under priced. So the only real answer to your question is again that it depends. In my market, because of these statistics, I tell my buyers that in a normal sale that we feel is priced right, then if you offer within 3-5% of list price the seller will probably take it, if you offer under 5% be prepared for a counter, anything beyond 10% is usually ridiculous.... again only if you know it is priced right.... so you really need to look at the house as an individual. To go in and say that the entire area is overpriced can't be correct unless absolutely nothing is selling. If you have people buying then it means the houses are worth that. Any product is worth (and only worth) what a buyer is willing to pay. - Fri Apr 18 2008, 07:53

I just closed on another house that was listed for $69,900. The buyers offered $64,000 but found out there was another offer, so upped their offer to $68,000. Did they pay too much, again, no because it was worth it to them. and the house was priced right so it sold within 3% of list price - Fri Apr 18 2008, 07:51

While I appreciate your candor, I don’t appreciate your projections regarding my motivation. No, I didn’t get the answers I was expecting. In my last post, I was quite clear about that. I was expecting some more real life examples, and much less deflective conjecture. I’m not looking for affirmation. I asked the question that I did because I’m interested in quality responses. Thank you for the examples you gave. However, I find it a bit alarming that you don’t understand how the economic landscape of a region should be a factor? As with any market, the price today is always going to be impacted by the perceived value tomorrow. It’s the point of pricing in a discount. It’s at the very heart of my question. At what level does it become too severe? If offered examples (as you have now), we can then have a dialogue about details, so while understanding that each situation is different, I can draw upon the relativity of the situation and apply it to my own. I thought that was where I could derive real value from threads like these. I didn’t realize how many agents want to simply use this as a marketing platform. - Thu Apr 17 2008, 10:14